Lecture by way of a “quiz”…to be completed in groups.

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Presentation transcript:

Lecture by way of a “quiz”…to be completed in groups. PowerPoint Summary of: Key Negotiation Concepts Negotiation Lecture by way of a “quiz”…to be completed in groups.

PowerPoint Summary of: Key Negotiation Concepts 1. How would you define it?

Negotiation – My Definition PowerPoint Summary of: Key Negotiation Concepts Negotiation – My Definition A discussion between two or more disputants who are trying to work out a solution to their problem. 2. When is it done?

PowerPoint Summary of: Key Negotiation Concepts It is done when… …neither side can get what he/she wants on its own. 3. What is the purpose of negotiation? There are two possible answers.

Purpose of Negotiation PowerPoint Summary of: Key Negotiation Concepts Purpose of Negotiation To win. (Competitive) To reach a good agreement. (Cooperative) 4. How would you define a GOOD agreement?

What is a good agreement? PowerPoint Summary of: Key Negotiation Concepts What is a good agreement? Fisher and Ury argue that a good agreement is: wise satisfy the parties' interests is fair is lasting. efficient Cost effective, Time conserving improves parties' relationship.

PowerPoint Summary of: Key Negotiation Concepts Can be cooperative or competitive.

Term Confusion Competitive Negotiation Cooperative Negotiation Win-lose Zero sum Positional Distributive Hard Win-win Positive sum Interest-based Integrative Principled

PowerPoint Summary of: Key Negotiation Concepts Benefits & Costs There are benefits – and costs – of each approach.

PowerPoint Summary of: Key Negotiation Concepts Think back… EVERYONE list the last 3 – 4 times that you have used negotiation. (Recorder compile a list all basic situations…such as: what to do last weekend.)

PowerPoint Summary of: Key Negotiation Concepts Label and count Then label each as competitive or cooperative. Which do you use more…competitive or cooperative strategies?

PowerPoint Summary of: Key Negotiation Concepts Sharing Examples When do you tend to be competitive? When cooperative? Why? Does this correspond to your conflict style?

PowerPoint Summary of: Key Negotiation Concepts More quiz…. 5. What are the characteristics of competitive negotiation? 6. What are the benefits? 7. What are the costs?

Competitive Negotiation… PowerPoint Summary of: Key Negotiation Concepts Competitive Negotiation… 8. Based on your knowledge of conflict styles …when do you think competitive negotiation is best used?

Competitive Negotiation is best used when… PowerPoint Summary of: Key Negotiation Concepts Competitive Negotiation is best used when… Situation is short term and not repeating. The agenda is more important than the relationship, You HAVE to win The other party is expecting you to be competitive. The primary issues are tangible and/or splittable—money, time, dates, etc.

A classic competitive situation: Buying a car PowerPoint Summary of: Key Negotiation Concepts A classic competitive situation: Buying a car Who has recently bought a car? Describe the negotiation…how did it go? Who started the negotiation? Did they get what they asked for initially?

Competitive Negotiation… PowerPoint Summary of: Key Negotiation Concepts Competitive Negotiation… Starts with the solution. Parties propose solutions to one another and Make offers and counter-offers until They find a solution that is acceptable to both (it falls within their ZOPA or “bargaining range.” )

PowerPoint Summary of: Key Negotiation Concepts ZOPAs = Zone of Possible Agreement Otherwise known as “bargaining range” Tells you whether or not an agreement is possible. B below = buyer; S below = seller OO = opening offer; WAP = walkaway pt S- WAP $12,000 B-WAP $12,500 S - OO $15,000 B - OO $10,000

Competitive Negotiation… PowerPoint Summary of: Key Negotiation Concepts Competitive Negotiation… Or, if they can’t find a ZOPA, they consider whether they’d be better of exercising their “BATNA”. BATNA is the Best ALTERNATIVE TO a Negotiated Agreement

BATNA Is your “plan B” It is what you do when the other side tells you to go “jump in a lake!” or they insist on a ridiculous agreement.

Why do you care about BATNAs? PowerPoint Summary of: Key Negotiation Concepts Why do you care about BATNAs?

Why do you care about BATNAs? PowerPoint Summary of: Key Negotiation Concepts Why do you care about BATNAs? They tell you what you should agree to and what you should walk away from. They also give you negotiating power.

PowerPoint Summary of: Key Negotiation Concepts Often confused: BATNA and WAP (Walk-away point) What’s the difference? Your walk-away point is the offer the other side makes that is so low (or so high) that you WALK AWAY from the negotiation, and Go with your BATNA instead!

PowerPoint Summary of: Key Negotiation Concepts For instance You want a Jeep, but your parents will let you have their old Toyota for $5,000. You decide that if you can get a used Jeep for $7500 or less, you’ll go with that. If you can’t, you’ll go with your parents’ Toyota. What is your WAP? What is your BATNA? They are related…but they are not the same!